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92 - Let's Talk About Tariffs & Their Impact on Sports Teams
Manage episode 452171062 series 3467449
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In this episode, Jeremy Neisser discusses the implications of tariffs on sports marketing, focusing on how they affect budgets, promotional strategies, and fan engagement. He explains what tariffs are, their purpose, and how they can increase costs for imported goods. Jeremy provides actionable strategies for sports teams to manage these costs, including setting aside emergency funds, having in-depth conversations with promotional companies, and exploring creative solutions for promotional items.
He also highlights the importance of staying informed about potential tax credits that could alleviate some financial burdens.
Takeaways
- Tariffs are a tax imposed on imported goods.
- They can significantly impact budgets for sports teams.
- Setting aside an emergency fund is crucial for unexpected costs.
- Engaging in lengthy discussions with suppliers is necessary.
- Creativity in sourcing promotional items can save costs.
- Local businesses can provide alternatives to imported goods.
- Understanding the political implications of tariffs is important.
- Monitoring potential tax credits can provide financial relief.
- Tariffs can reduce consumer choice and raise living costs.
- Planning ahead is essential to mitigate tariff impacts.
Chapters
00:00 - Understanding Tariffs and Their Impact
05:44 - Strategies for Managing Tariff Costs
10:19 - Creative Solutions for Promotional Items
13:41 - Tax Considerations and Final Takeaways
Additional Resources:
- Trump’s threat to impose tariffs could raise prices for consumers, colliding with promise for relief
- Trump proves he is serious on tariffs - but it's not about trade
- Here's why Trump thinks tariffs are good for the U.S. — and what the experts say
- What does Trump’s latest tariff plan mean for the U.S.?
- US announces billions to help farmers hurt by Trump tariffs
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